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How to Invest In Gold to Achieve Your Financial Goal

Indians have been fond of gold jewellery for the longest time. It is an asset passed down to us by our ancestors during our birth or marriages. It forms a major portion of a family’s savings.

Another common scenario in the country when it comes to gold is the activity of selling gold for cash .There are multiple people who look for different avenues where they can opt for options such as ‘get cash for your gold in Karol Bagh’ or other similar things. Gold can be a massive asset when you have to achieve some goal that requires capital. Being smart and investing right in gold can be a huge help in achieving your financial goal.

Achieve Your Financial Goal

Financial strategy for buying gold

The main aim of making an investment is to attain some financial aims. Imagine how great it would be if investing in gold would be just like any other investment. Categorising your goals, in life or in finance will help you achieve them in a set timeline. So,don’t just focus on investment in gold because it is a tradition. Rather, you need to have a proper strategy behind it.

How much should you invest in gold?

Gold investment can be of great help if there is an emergency when you can sell gold for cash. However, it is suggested that your investment should be between 5-10% of your total investment amount. A similar approach needs to be followed with your risk profiling and risk-taking capacity. So, it should never be the primary investment you make.

When should you invest in gold?

After deciding your strategy for gold investment, you need to decide whether investing at the current price would be beneficial. The returns were insignificant during the last three years, and now, the price of gold may remain the same. This is because the price of gold globally depends on US interest rates. Many investors are getting inclined towards gold investment now.Gold investment is fruitful only for long-term investment plans. It is a cyclical-investment tool, and one should not expect immediate returns.

How to buy gold?

Investing in gold as jewellery is not feasible as safety and storage is always a concern.Investing through Exchange Traded Funds (ETFs) or mutual funds is a good option as you would not incur any making charges. Moreover, such investments are easy to sell or liquidate. Unlike ETFs, you don’t need a Demat account while buying gold from mutual fund companies.

Sovereign Gold Bonds offer an interest between 2-2.5%. These bonds offer tax exemption on maturity and only tax on the interest earned every year is paid.

They have an eight-year maturity period too.

Quick pointers for you

Here’s a brief to help you make smarter decisions when buying gold that you can later use as an asset to achieve your financial goal:

  • Decide to invest in gold only if it matches your financial goals.
  • Limit your gold investment to 5-10% of your financial investment.
  • Long term investment plans should be adopted.
  • Choose ETFs, gold funds, sovereign gold bonds over physical gold.

‘Sell gold for cash near me’ now has a solution

You must be wondering, “Where do I sell gold for cash near me So, if you are looking for a reliable company to get cash for your gold in Gurgaon or any other part of Delhi, your search will end at 24Karat! We are driven to provide you with a reliable experience with your gold investment. Therefore, the next time you think about getting the right price for your gold, 24Karat would be your best choice!

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